Which of the Following Is Correct with Respect to When

question 32

Multiple Choice

Which of the following is correct with respect to when the impairment test must be performed?

• A)An annual test is required for long-lived assets under IFRS.
• B)An annual test is required for long-lived assets under ASPE.
• C)Under IFRS, a test is required for long-lived assets only when there are indications an asset may be impaired.
• D)Under ASPE, a test is required for long-lived assets only when there are indications an asset may be impaired.

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